Vladimir Milovidov, who already had work experience in the Federal Service for Financial Markets in 2000-03, will replace Oleg Vyugin, who was in office for three years.
In September, Vyugin, 54, told Russia's respected business daily, Vedomosti, that he did not associate his further career exclusively with the financial markets regulator. "A top manager should avoid staying too long in such agencies ... I would like to work in a more dynamic area than bureaucracy."
Vyugin did not rule out that he might take up a position with an investment company, and Vedomosti sources said he could join Goldman Sachs.
Vyugin told Vedomosti his main goal in the Federal Service for Financial Markets had been to return the stock market to Russia, and the newspaper said he had achieved his objective - about 70% of deals involving Russian securities are concluded inside the country.
Marlen Manasov, director of UBS Securities, approved Milovidov's appointment, describing him as an intelligent and honest professional.
